The US crypto ETF market is bracing for a decisive stretch after the SEC’s approval of “generic itemizing requirements” final week opened a streamlined path for spot XRP and Solana ETFs—alongside merchandise past bitcoin and ether. With exchanges now in a position to record qualifying commodity-based ETPs with out a bespoke 19b-4 approval, candidates for spot XRP and Solana funds are speeding to lodge last amendments—filings that a number of trade contributors say are already considerably baked.
Countdown To Launch For Spot XRP And Solana ETFs
On September 24, ETF Retailer president Nate Geraci signaled the inflection level in a collection of posts on X. “Closing wave of amendments may very well be filed by finish of this week on numerous spot crypto ETFs incl xrp & sol,” he wrote, including that “these filings are fairly far alongside within the overview course of” and that the “countdown to launch is on,” citing a Reuters report on the SEC’s new framework.
Right here we go…
Hashdex Nasdaq Crypto Index US ETF *authorized* below SEC’s new generic itemizing requirements.
Will now have the ability to personal crypto property past btc & eth.
Seems to be like xrp, sol, & xlm. pic.twitter.com/OyZO9MLnMx
— Nate Geraci (@NateGeraci) September 25, 2025
In a separate put up, Geraci flagged the Hashdex Nasdaq Crypto Index US ETF: “Right here we go…Hashdex Nasdaq Crypto Index US ETF *authorized* below SEC’s new generic itemizing requirements. Will now have the ability to personal crypto property past btc & eth. Seems to be like xrp, sol, & xlm.”
Reuters, which first detailed the regulator’s accelerated pathway on Sept. 18 and adopted up on Sept. 24, reported that, for the reason that SEC initially floated the foundations in July, issuers have “scrambled to replace their new product filings and reply to particular feedback and questions from the SEC.” A “last wave of amendments may very well be filed by the top of this week,” three individuals conversant in the matter informed the wire service. “These filings are fairly far alongside within the overview course of,” Bitwise president Teddy Fusaro mentioned. “These are the foundations we had been anticipating.”
The rule change is foundational. By blessing generic itemizing requirements at NYSE Arca, Nasdaq and Cboe BZX, the Fee shifted spot-crypto ETF approvals from an adjudicative, proposal-by-proposal slog to a rules-based regime. Within the SEC’s personal phrases, exchanges could now record Commodity-Primarily based Belief Shares that meet the factors “with out first submitting a proposed rule change” to the Fee—compressing timelines to roughly 75 days in simple circumstances and eradicating duplicative critiques that traditionally bottlenecked non-BTC/ETH merchandise.
For XRP particularly, a compressed and crowded calendar now looms. The SEC’s last deadlines line up throughout seven days in October: Grayscale on Oct. 18, 21Shares on Oct. 19, Bitwise on Oct. 20, CoinShares and Canary Capital on Oct. 23–24, and WisdomTree on Oct. 24–25.
Solana sits in the identical slipstream. In keeping with Galaxy Digital Analysis, Solana is the main candidate for the first-wave approvals below the generic regime, reflecting the maturity of filings and the exchanges’ preparedness to record them. Issuers together with Bitwise and 21Shares have spent the summer time revising staking, custody and in-kind switch language to suit inside the exchanges’ rulebooks and the SEC’s evolving expectations.
At press time, XRP traded at $2.84.
Featured picture created with DALL.E, chart from TradingView.com
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